Millionaire Next Door Stories

Millionaire in the Making

By Thomas J. Stanley on Aug 17th, 2010 in Millionaire Next Door Stories

In my research over the past 30 years, I have discovered why the millionaire next door types are so productive in transforming their income into wealth. Much of what I have found is succinctly summarized in the following communication I recently received.  I am not a millionaire. At the age of 38 I am about 1/2 way there on […]

Rags to Riches

By Thomas J. Stanley on Jul 22nd, 2010 in Millionaire Next Door Stories

On the way to the mountains last weekend I stopped at a favorite family owned hardware store.  This large, small town store carries a wide variety of merchandise from work clothes to high grade woodworking tools.  It also has a nice sporting goods department.  It was there that I found an item which I had […]

Stop Acting Rich: A Professor of Frugality

By Thomas J. Stanley on Jun 29th, 2010 in Millionaire Next Door Stories

Engineers, professors and people with Scottish ancestry, taken separately, are among those who are significantly above average in transforming income into wealth.  I have focused on these three groups in previous blogs.  I wonder if someone who fit in all three of these categories would be especially good at accumulating wealth?  The details of the following case certainly […]

Stop Acting Rich: Act Like Ken

By Thomas J. Stanley on Jun 24th, 2010 in Millionaire Next Door Stories

What does my data tell me about hyperconsuming, high income, low net worth types?  Often these income statement affluent (IAs), as I call them, actually subsidize balance sheet (BAs) millionaires.  One example of this is found in the motor vehicle industry.  Most BAs (about 80%) have never leased a car, SUV, pickup or minivan.  No, not […]

The Millionaire Down Under

By Thomas J. Stanley on Jun 22nd, 2010 in Millionaire Next Door Stories

I have found that wealthy people who have a modest consumption life style tend to be generous in giving to noble causes.  The following profile of John Adu (Australian Down Under) is yet another example of this. I have been unable to escape the uncanny similarities between my own circumstances and the things described in your books.  […]

Scholarships but No Rolls Royce!

By Thomas J. Stanley on Jun 8th, 2010 in Millionaire Next Door Stories

I recently selected my top ten millionaire next door types.  Mr. W.W. Allan, aka Aly, was the first one I chose.  He was also the first that I chose to include in The Millionaire Next Door, pp. 109-112..   Aly was part of a focus group interview that I conducted of very affluent entrepreneurs.  Even among […]

Even More Frugal Than One Engineer

By Thomas J. Stanley on May 27th, 2010 in Millionaire Next Door Stories

A woman contacted me soon after Stop Acting Rich was published.  She reflected upon the discussion in the book about how productive educators and engineers were in transforming income into wealth.  She asked, “What about an engineer who is also an educator?”  She was talking about her husband, a 60 year old mechanical engineering professor.  […]

A Millionaire Profile

By Thomas J. Stanley on May 25th, 2010 in Millionaire Next Door Stories

From time to time I  like to share some of the notes and e-mails I receive from millionaires in hopes that you may gain insight into to the lifestyles of these self made, financially independent people.  One such profile came from a respondent to my latest national survey.  You may find Mrs. T and her […]

We Don’t Think of Ourselves as Wealthy

By Thomas J. Stanley on Apr 22nd, 2010 in Millionaire Next Door Stories

A Message from Bob:   Your books are great!  Eight years ago I was browsing in a bookstore and picked up The Millionaire Next Door.  I began skimming through it and quickly said to myself – this guy is writing about me! I was early-fifties, owned my own business, had no credit card debt, paid cash for […]

Stop Acting Rich: Good Advice from a Frugal Engineer

By Thomas J. Stanley on Apr 6th, 2010 in Millionaire Next Door Stories

I recently received an e-mail from an engineer whom I’ll call Mr. SC.  I’d like to share his story with you.     My wife and I have achieved multi-millionaire status by the very means Dr. Stanley has found in his studies. I perform the vast majority of tasks that most Americans would think a millionaire would […]